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White House Emails Show Administration Pressure For Solar Company Loan Approval

September 15, 2011 by  

The push from the Obama Administration may have continued, despite the negative news concerning the company.The Solyndra debacle that has come to light in the past week in the wake of the solar company’s bankruptcy has seen the rise of new developments that may implicate the Administration of President Barack Obama for pushing the loan despite negative information about the business, Fox News reported.

A House Energy and Commerce subcommittee will probe the approval of the loan, which has come under scrutiny following the release of emails that detail a significant push from the White House for the allotment, despite receiving reports that the company was “not ready for primetime,” according to the news outlet.

“Many of us think he was trying to get the money out the door perhaps for political reasons, and in the end taxpayers lost over half a billion dollars,” Representative Cliff Stearns (R-Fla.), chairman of the House Energy and Commerce Subcommittee on Oversight and Investigations, told Fox News.

ABC News reported that the push from the Obama Administration may have continued, despite the negative news concerning the company, because of their initial backing of the project as an example of how green technology could push the country forward.

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  • Charles

    So, how do tax payers get their money back?

    • DanB

      We don’t! That is the first lesson we need to learn as “investors.” The next lesson we should learn is that government is terrible at investing our money (the only good government investing is military?). After we learn lesson one and lesson two, perhaps we should seek a new investor to manage our funds. This is two fold. We start by electing politicians that will stop wasting our taxpayer dollars and get government out of the private sector. As we get government out of the private sector, we then spend our own money on investments. For example, for the poor like me, I may not have millions of dollars to buy green tech but there might be a $600 solar generator that catches my fancy so I buy that. Such a purchase may not have the flair of a million dollar investment, and it won’t earn me residual income but it will send signals to investors with millions of dollars. Successful green tech that actually moves in the free market will attract investors, and those investments will build successful companies. Unlike government trying to pick winners and losers.

      So first lesson of investing, money lost is money lost. That is the incentive to learn how to not lose money. Some investors actually insure their investments. Others become savvy on determining which investments are likely to fail and which probably will succeed. And yet others do some blend of the two.

      Of course, as taxpayers, we hate to acknowledge that our money is lost. We want it back. And so we doom ourselves to a cycle of self-inflicted, government tyranny, because we refuse to accept our losses. Because if we accepted our losses, we would quickly stop electing politicians who keep wasting our money. But they keep telling us that our tax “investments” are sound and will do wonders for the economy, the environment, our elderly, our sick, and the list goes on and on. The sad part is that we keeping buying their story. Which is why we have come to be people who want our money back after it has been lost and squandered. We have bought the propaganda heart and soul as a nation, as a people.

      • http://wwwharlanonline.net Daqnny Hagy

        That pretty well somes it up government needs to get out of theway and let the free market do its JOB.

        • mikeg

          That sounds logical right? Unfortunately, the free-market system in a global economy is failing. A company developing solar panels (or anything that needs to be physically manufactured at this point) will simply setup their facility in China, Thailand, etc and import most of the pieces here to assemble and sell. They can then put a stamp on it that says assembled in the USA and everyone feels happy.

          Stuff rarely gets manufactured here anymore. Cost of living is too high, the turn around from initial investment to selling the product is waaay to long due to costs and regulations, etc.

          This company failed not because of bad business practice, etc. It failed because China subsidized about 20 times more than we did in this industry.

          The way we are going, we are going to have all manufacturing done in China or Thailand, all tasks that need people (call centers, programming, etc) in India, and all consumers in Europe and the US. A free market system in a global economy doesn’t work, unless everyone has the same regulations, same cost of living, same social values, etc. That will never exist.

          • DanB

            First, it is not the free market you seem to believe it is. Second, if it was the free market you seem to think it is, perhaps there is a place for everything–including having manufacturing move overseas. In fact, having manufacturing move overseas is perhaps the only thing that is still a free market move today.

            Boeing tried to expand in SC. What does the federal government through the NLRB do? Stop it. So apparently we don’t have a free market here. You have to do what government finds acceptable, where government says it is acceptable. Not an entire dictatorship like some economies, but certainly we seem to be well on our way to it.

            A doctor decides that he can deliver better services at better prices if he just accepts payments directly from his customers, offering them essentially to pay a monthly low rate for great service. What does the government do? Tell him that this is illegal, that his practice would now be competing with the health insurance industry and that just isn’t allowed.

            And the Amish….

            Well, the list goes on. We do NOT live in a free market. So your complaint about the free market failing and driving business overseas is what we call propaganda. You are told something not entirely true and you are told it enough until you believe it. In this case, you are told to look the other way while government CREATES the mess driving business overseas and then told the lie that only government intervention can fix the mess.

            While I might ask my child to clean up the mess they made coloring the wall, I do not give them a crayon with which to remove the crayon drawings from the wall. I give them cleaner, or water with a sponge. But unfortunately if government were a child coloring on the wall, instead of giving them a cleaners, sponges, and other cleaning tools to remove the markings, instead we give them permanent markers and buckets of paint….

          • Bus

            Amen DanB, The free market would work if it were allowed to but the governments around the world can’t leave things alone and let the market adjust and regulate itself.

          • eddie47d

            You made some fine comparisons Dan B and well thought out. Although there should have been a guarantee with this Solyndra Company (insurance or many other investors).It was a good move (on the surface) by Obama but not well thought out if a loan failure would arise. It is Obama’s job (or any Presidents)to encourage job growth especially in the private sector. This failure doesn’t bode well for any jobs being created in the USA. Mikeg was also correct about China which is the number one solar panel maker in the world.No President is going to run on telling Americans to accept $5 an hour wages. So unless we can compete with the low wages of other countries then building up jobs here will be futile. 30 years ago Americans weren’t willing to take Mexican wages for making clothes and those plants went south. Today Americans aren’t willing to take Chinese wages to build solar panels. The same with machine tools which went to SE Asia. The American economy made millions off of computers and now none are made here. Are the Corporates too greedy or are the workers too demanding. That seems to be the battleground.

          • EyesWideOpen

            You can bet that Obama has half of that $ 500,000,000 stashed away in a secret account!

          • BrotherPatriot

            DanB…amazing posts.

            Very clear and concise.

            I ask of you…what does your intellect say regarding the NWO & who those people are that are affiliated with it…???

            God Bless & keep up the good work, Sir.

          • Meteorlady

            Brother Patriot, I say that we have Obama as a President because of George Soros and his organization backing him. He was a friend to Soros when he ran for the senate in the state of Ill and from then on to the Presidency. If you have read about Soros you know that he has been quoted in the press as saying we are the only country that stands in the way of One World Order. There are various organization in this world that support One World Government and all of his do so. The Bilderberg group meets yearly, sometimes more, and in consists of former heads of state and world leaders, as well as bankers and businessmen. You can bet that they are not meeting to have a nice dinner and a glass of wine while they all socialize. They meet for a reason and that’s to steer the world toward one government. There is also some consensus from investigators and journalists that have studied this organization that there are at least 8 people above that group who want to rule the world.

            There is hope however since I believe that the European Union will soon dissolve. They have found that supporting irresponsible spending by others of their members is not to advantageous to the prosperous countries and will eventually bring them down. Meanwhile the Euro is loosing value just like the dollar. I think the more prosperous EU countries will go back to their own form of money. Same as states are doing here – letting us pay in silver and gold.

          • Meteorlady

            We are failing as a manufacturing country because free market is not here anymore. If you believe it is, then I can sell you some waterfront property in AZ.

            The government does not create jobs, the government hinders job growth. As a small business owner I create jobs. The government takes away my rights to run that business daily. I can give examples of self-serving regulations. Remember when you could take your propane tank into be filled? It cost about $5.00. Now you have the exchange the tank for another filled tank at the cost of $20.00. The propane industry lobbied heavily for this regulation so they could reap a bigger share of the pie.

            My brother-in-law runs a small repair garage. He is more regulated than BP was while drilling the the gulf.

            The bottom line is that we are the second highest corporate taxer in the world today (though some get special treatment like GE and GM), and we are the most regulated. That kills business….. and since Obama and the Democrats have been in power my business is getting the life sucked out of it via city, county, state and federal taxes and regulations.

            Seattle, WA just passed a regulation that if you employed 5 or more people you were required to provide one week of sick leave per employee. That’s job killing for a small business, and they wonder why I have moved to Texas.

          • Meteorlady

            Eddie – we can compete. We are competing. If you go to buy a light bulb you will find that GE (who pays nothing to do business here) is higher priced than a generic brand made in the US. There are many more examples. As a small business owner I can tell you it’s not about payroll particularly, it’s about taxes and regulations. It’s about unions and retirement funds and free medical. The overhead for each employee is my main concern and if it gets too high I don’t make a profit. If I am taxed too much don’t have money to reinvest in growing my business.

            The government scam of servicing the debt by printing money is scary and has finally come home to roost and we will all be paying the price.

            There is a perfect example – Clinton signed the North American Free Trade agreement. The auto manufacturers took their parts manufacturing to Mexico and other countries. The Mexicans get paid about $3.45 per hour with no benefits. GM just turned over $345 MILLION for an state of the art engine manufacturing plant in Mexico. Because of the free trade agreement it costs them virtually nothing to import these parts back into the US for assembly into their cars.

          • DaveH

            Mike,
            As the others have pointed out, we haven’t had Free Markets for a very long time. But if we did, of course we could trade freely with the world and benefit.
            If you don’t believe that, then you need do no more research than to study war-time tactics. One of the most common tactics is to blockade a country from trading freely with other countries. If countries were self-contained economically, as you seem to think they should be, blockades would fail miserably.
            Countries, as well as individual people, have certain skill sets that they do better than anybody else. It makes much sense to take advantage of that.
            And when countries do as you fear, Mike, and subsidize certain industries, where do you think they get those subsidies from? They must rob Peter to pay Paul, so those industries (and people) not subsidized then must carry the extra burden. In other words, targeting certain industries for aid just shoots those countries’ other businesses in the foot economically speaking.
            It is a fact that some countries are populated by people willing to work for less than the American people. Take China for instance Considering the fact that they have to transport their goods all the way across the Pacific Ocean, they then need to work for much less than Americans are willing to accept. I say that doesn’t cast a very good light on the productivity of current American workers.
            At any rate, our major problem is Big Government which sucks 40% of our GDP away. And on top of that they diminish our productivity greatly with their thousands of regulatory hoops that our businesses must jump through.
            Read this to learn more about Trade and Protectionism:
            http://www.cato.org/pubs/tbp/tbp-028.pdf

          • LV

            Well, a free market in a world economy may not work, that is why they are trying to bring this nation down, so they could start their “new world economy” we are the only ones holding up this agenda..I want sovereignty, not to be a global unit. I am a part of one state, country continent, within that continent, lies a free unit, one who can think, feel and touch.. I am me.. not a global unit…in any form.

          • Kris

            mikeg: Did you miss the part from Daqnny Hagy about government getting out of the way? That’s the reason U.S. businesses send their business ventures overseas. It’s too expensive here because our free market is no longer free. There are piles of paperwork, long wait periods for permits and licenses, outlandish expenses for same, bureaucratic rules galore, and Obama’s piling more on every day. Not to mention that it’s impossible to have any confidence: businesses never know when more red tape, taxes or paperwork is going to be piled on. Then there are pushy unions, scaring the businesses and any potential employees. Daqnny is right: get gov’t out, it might take a while, but we’d be out of the ditch before long!
            And yes, there are companies with low or non-existent integrity. It’s been taught to them, it’s Saul Alinsky: the ends justify the means. The entire nation has not just been dumbed down by the left, it’s been stripped of honor.

  • Jim

    Charles, to get the tax payers money would be the same way one would un-ring a bell!

  • http://yahoo skyraider 6

    we were duped by our leader inlies kiss the money goodby

  • Dale Putnam

    Impeachment proceedings could be filed, and challanges filed for every conceivable wrong… and that would take a week or two….
    to list them all, every possible delay tactic thrown up, might… just might hold off spending just a few dollars more.
    The continueing to support after the election, in the form of retirement, SS protection, health care for him and his family, and and and… will continue to pull us down. “Yes, we can” has cost and will continue to cost this country, untold billions, right up until this country stands up and says “NO WE WON’T!”

  • http://www.easyinvest.co.za peter

    Why is anyone surprised? Do we really expect someone who should be prosecuted for impersonating a President to not be devious in some aspect? Worse to come? Bet on it. No changey!…No Hopey……

  • http://wwwharlanonline.net Daqnny Hagy

    Peter that is a good analias of what the pres. is doing there is definatly no change or hope as long we have the same people in charge in D.C.

    • Vic Bailey

      The Resident joined the rest of the Socialist in Washington, and ONLY if we run the Socialist out of our government, will we make any kind of a recovery. Until them, the Socialist are going to tear America down little by little, and pretty soon we will have a new piece of paper to govern us and it won’t be the Constitution, it will be orders from our Dictator!! Wake up America. Semper Fi.

    • ValDM

      It isn’t “hope & change”………..we didn’t truly understand what he was saying. It was actually “hoax & chains.”

  • Vic Bailey

    We need to take the money out of the Congress, Senate, and Resident’s salaries and All their holdings. Can you imagine that Pelosi giving up her vineyards and her old man’s investments? And the rest of the crooked Washington scum, having to give up their properties, cars, yachts, like Kerry giving up his 7 million dollar yacht, I would probably die of laughter. BUT, we all know that won’t happen, the citizen just get’s screwed once again. But, I can wish can’t I? We do need to cull the crooks out of the herd, and soon, they are waisting way too much of our money. Semper Fi.

    • eddie47d

      LOL- Vic How many times have I heard that the socialists want to take away other peoples money. At least 200 times. Now Vic want to take away other peoples money. I think you just drifted to the “other side”.

      • Meteorlady

        There is a small difference. They TOOK our tax dollars, we did not willing invest in their company, nor would we have had we been given the facts. The people that ran the company, Obama and the rest that contributed to it are responsible because the took our money and gambled it away when it was obvious that this company was set up to fail.

      • eddie47d

        I don’t see where it is “obvious” that this company would fail. Now it was very obvious that the housing market would burst but it was full speed ahead for them. It was obvious that Enron was up to no good but nobody put on the brakes to their giant schemes.It was extremely obvious that United Health Care was charging more for healthcare than the markets could stand. Now I didn’t see the failure of Wachovia coming or of Merrill Lynch.So not everything is obvious. Good companies can come and go like the wind(such as Montgomery Ward and Mervyns). I don’t know why Solyndra dived so quickly except for the economy as a whole and the Chinese market dominating solar.

  • CJ-CA

    We can bet what’s left of our bank accounts that there is much more to this “green” investment (read: loss) and come out a winner. Nothing this SOB in OUR White House has his hand in doesn’t pad his wallet – hidden, no doubt, somewhere in the middle east or Switzerland.

    • JimW

      Careful now, you don’t want to end up on “AttackWatch”!

  • Harvey

    Follow the money! Someone got filthy rich in this scheme. All involved in approving the so-called loan should be sent to jail including Odumba.

    • Meteorlady

      They should go in and take every single cent these people made running the scam company. The CEO and all the rest should be on the street with nothing left but the clothes on their backs. But hey, they walk away with millions of my money and Obama defends his actions. What’s new in the zoo.

      • eddie47d

        See my other reply to you above. Are you sure it was a scam or the market conditions. I do hope they can rebound.

  • James A. Olson

    IMPEACH Obama! Of course, we’ll have to know who he really is (as in a real birth certificate and a non-phony SSN) before that.

  • 2WarAbnVet

    It’s fortunate that Obama is a Dem media darling. If he was a Repub the press would be out for his hide with torches and pitchforks. In fact a Repub doesn’t need to be a thuggish slime ball like our current President to have the media excoriate him.

  • http://yahoo skyraider 6

    will they try to take prayer out of the military we sure called on God alot in korea

  • Song

    Hey, where is the Doc and eddie and karolyn when articles like this one come down the pike? hahahaha Not that I hadn’t heard about this debacle now for at least a week. Am I surprised? hahahhahaha NO! Should anyone be surprised? LMAO

    • TheRealBob

      Song: doc, eddie, and karolyn lack the wit to understand this and the integrity to admit that maobama could be a low-life, scumbag, crook who could abuse his power. We all know that, but until he ends whatever government ptogram these parasites are living off of, they will be his mindless followers.

      • eddie47d

        Boo…. we are closer than you think Fake Bob and same old Song and dance!

        • Song

          glad to see you showed up…you and no one else. hahahahahahaha

  • independant thinker

    “George Kaiser, one of the California-based company’s primary investors, donated $53,000 to the president’s 2008 campaign war-chest and others connected to the company gave thousands more.”

    From a Newsmax article.

    Read more on Newsmax.com: GOP’s Poe: Solyndra Stimulus Payout ‘Old-Fashioned Chicago Cronyism’

  • Jim C.

    The only thing you can say about Obama and “green energy” is that Obama is “green”. He was too inexperienced to lead this nation, and won’t admit it.

    Recently he mandated 50 MPG cars. Do you suppose he took any input from the engineers responsible for designing the cars, as to whether it was feasible or not?

    He ought to be impeached for acepting $53,000 from Kaiser, and then pushing a loan to the company. But don’t count on the Democrats to do right by the nation and support an impeachment Like the Republicans who stood at attention for all of Bush’s nonsense, they will defend their man to the death, even as we hurtle over the precipce of 15 trillion dollars in debt.

    • eddie47d

      Cars can indeed get higher mileage. Some could even get better than 50mpg. We’re too spoiled in America to demand better.

      • Meteorlady

        They still use oil produced by countries that hate us….

      • DaveH

        Yeah, they’re called Motorcycles.

  • chuckb

    worry not, eric holder will investigate, we can be assured
    of a thorough non-partisan investigation.

    • BrotherPatriot

      *gack*

      • JeffH

        BrotherPatriot, good to see that you got your Gravatar up and running.

  • Meteorlady

    So we invested in a private company, which Bush believed to be too risky, and lost our money? Without even my permission to spend my tax dollars on private enterprise? Why solar? We buy power in Texas on the open market. They are required to tell us where their power comes from. The MOST EXPENSIVE is solar. Why wouldn’t they invest in clean coal, natural gas exploration and development and wind? We are the Saudi Arabia of wind in this country.

    As for cars – we should convert to natural gas until wind and nuclear power gets more widespread. The Washington State ferry service is converting to natural gas for their ferries and they estimate that the payback is only 7 years.

  • JimW

    A limited government that isn’t involved in the private sector – Huge and extreme tax incentives for U.S. business to grow and bring business back here! – Fair and equal import/export regulations and fees! – Right to work FEDRAL laws! Get the unions out of Government! – Greatly reduce the powers of the EPA! Every one wants a clean environment but lets real them in a bit!! – NO MORE SIMULUS! EVER!! Get the U.S. out of the UN and the UN out of the U.S. !!!!!!!

    • Meteorlady

      Vote for Ron Paul…. he believes in all this and more.

    • DaveH

      We don’t need the EPA for a clean environment. A few explicit laws would suffice nicely.

  • JeffH

    Hmmmm, let me think about this administrations latest blunders…Solyndra bankrupt and the loss of 1/2 a billion taxpayer dollars after the administration was warned to not be to hasty and the failed Fast and Furious scandal…Nixon’s got nothing on Obama.

  • s c

    This solar crapola needs to be investigated while the details are still relatively fresh. Holder should be forced to resign so we can have motivated people who will do the job.
    Baaney Fwank was let off the hook, yet he was specifically asked if there were any ‘problems,’ and he said ‘No.’ Baaney and his chums should be behind bars. 500 million dollars doesn’t simply disappear, so who got rich and why is this administration so much like an organized gang of hardcore criminals?
    How many other solar firms and Madoff-like thieves will surface before the media is forced to do its job? Money can’t buy a politician integrity, character or transparency. Obummer has proved that.

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